Just about the economy
Russia’s current account reached a record high of over $25 billion per month in the first half of 2022 but fell to $6 billion per month in the first quarter of 2023, posing a challenge for the economy. Nevertheless, with few exceptions, Russia has maintained positive quarterly current account balances.
At a nominal annual growth rate of the federal budget from 1993 to 2022, the revenues of the budget increased by 2.4 times in real terms, while expenses increased by 1.9 times.
How did oil and gas budget revenues change depending on the volume of production and oil prices in 2011-2023
Russia’s GDP growth rates have lagged behind key developed countries for many decades — from 1980 to 2021, the Russian economy grew by only 59% or 1.1% per year.